Ji Suk Yi hosts today’s edition of the Wintrust Business Lunch for Monday, February 17th.
Segment 1: (At 0:00) Heather Cherone, The Daily Line’s managing editor, and City Hall reporter, discusses Mayor Lori Lightfoot’s pledge to end generational poverty. According to federal guidelines, approximately 22 percent of Chicagoan fall below the Federal Poverty Level, which is an annual income of $26,200 for a family of four. Cherone reported on the mayor’s commitment to “just cause evictions” (preventing landlords from evicting tenants with 30 days’ notice without justification) and the Just Housing ordinance (which prohibits apartment owners from running criminal background checks on sousing applicants that are already deemed qualified based on their income and credit history). Housing is one area in a package of measures (including criminal reform, education, and disinvestment) to reduce generational poverty the mayor will be tackling.
Segment 2: (At 9:00) Fredda Herz Brown, Ph.D. is a pioneer and innovator in the family enterprise field and the complexities and challenges families face when their work intersects with family. In her latest book, “The Essential Roadmap: Navigating Family Enterprise Sustainability in a Changing World,” she addresses the concept of “resilience” in family businesses and steps families can take to ensure their enterprise will last for generations.
Segment 3: (At 17:57) Real estate and personal finance expert Ilyce Glink, CEO of Best Money Moves, helps unpack the pros and cons of the age-old question of whether to buy or rent! More than 80 percent of renters believe renting is more affordable than owning a home in 2020, according to a recent survey by Freddie Mac. The answer to whether you should rent or buy depends on your own personal finances, your career trajectory, and a complicated formula that takes into account variables like total monthly costs, local median rent and sales prices, taxes and insurance.
Segment 4: (At 28:26) WGN Radio’s Amy Guth checks in with Ji to discuss trending local business stories. McDonald’s headquarters and franchises are spending millions of dollars to speed up drive-through wait-times by acquiring Dynamic Yield (a startup with technology that will allow drive-thru menus to update instantaneously) in a $300 million deal and adding new AI capabilities to drive-thrus.